It looks like some information is missing from your question, specifically the annual interest rate and the exact amount of interest you want to earn (you wrote "00" which seems incomplete). To help you solve the problem, I'll explain the formula and how you can calculate the time once you have the missing details.
Simple Interest Formula
The formula for simple interest is:
I=P×r×tI=P\times r\times tI=P×r×t
Where:
- III = interest earned
- PPP = principal (initial deposit)
- rrr = annual interest rate (in decimal form)
- ttt = time in years
How to Find Time ttt
Rearranging the formula to solve for ttt:
t=IP×rt=\frac{I}{P\times r}t=P×rI
Example
Suppose:
- Principal P=2000P=2000P=2000 dollars
- Interest I=100I=100I=100 dollars (assuming you meant 100)
- Annual interest rate r=5%r=5%r=5% or 0.05
Then:
t=1002000×0.05=100100=1 yeart=\frac{100}{2000\times 0.05}=\frac{100}{100}=1\text{ year}t=2000×0.05100=100100=1 year
What You Need to Do
- Provide the annual interest rate (e.g., 5%, 3%, etc.).
- Confirm the exact interest amount you want to earn (e.g., 100, 200, etc.).
Once you provide those, I can calculate the exact time for you!
